The First Trade… A lot of forks in this road.

Proper context can start the day with a solid win and make all the difference.

CHARTROOM LINK(s)
o Win XP-Friendly entry
o non-xp friendly (ilinc)
(pre-open Market Tour begins at 8:55 ET)

Through the prior close…
Piercing Tuesday night”s fresh high 2107.50 by 1 tick Wednesday morning expended the day”s selling pressure Ranging narrowly around unchanged through two timing windows waited for the afternoon”s bias environment to begin lapsing. Then a 10-point plunge touched 2095.00, which was recovered to end the day essentially unchanged. Oversold RSIs were left outstanding at the low. WedEX did not trigger.

Overnight action”s new info…
The plunge”s recovery soon extended to probe fresh highs at 2108.50. A shallow pullback soon resumed the rally, most recently touching 2113.50.

If, then…
Monday”s confirmed breakout was either going to begin a correction Wednesday, or else extend relentlessly to fulfill its target of new highs. Wednesday afternoon”s plunge had the opportunity to be that correction”s beginning. Completely retracing the plunge had extra opportunity to start that correction, having neutralized the plunge”s oversold condition while leaving unfinished business below at the low”s oversold RSIs. Yet, the rally soon resumed and extended to fresh highs overnight. Thursday”s gap up (currently indicated, with Draghi yet to speak this morning) will be the last opportunity to initiate a corrective dip through Friday morning — more unfinished business would be left outstanding above, with both a new opening gap up and a late bullish WedEX signal. Otherwise, not yet reversing down this morning could extend the trend through Monday”s open.

First Trade…
Exiting the open at 9:45 above 2115.00 would be likely also to exceed the 2111.00 bias-up target through 10:15 to renew the bias-up signal. Exiting the open above 2108.50 would be likely also at least to trigger the 2107.25 bias-up signal. Exiting the open under 2104.00 would be unlikely to trigger bias-up.